Uzbekistan, Germany Establish New Economic Chamber In Hamburg

9/30/2023 7:18:16 AM

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, September 30. Funded by the Polish LUNO group of companies represented by Director Mirko Novak, Uzbekistan and Germany established a new Economic Chamber in Germany's Hamburg, Trend reports.

The news followed a recent working visit of Chairman of the Chamber of Commerce of Uzbekistan Davron Vakhabov to the Federal Republic of Germany.

The Economic Chamber aims to support entrepreneurs of the two countries for ensuring unhindered access to relevant institutions and departments, overcoming barriers to good communication and creating a platform for such an important direct exchange between companies of Uzbekistan and Hamburg.

Furthermore, founding member Davron Vakhabov has been appointed Chairman of the Uzbek-German Economic Chamber.

Meanwhile, during the latest visit of President of Uzbekistan Shavkat Mirziyoyev to Berlin, Uzbekistan and Germany established a new comprehensive project portfolio for development of mutually beneficial cooperation in the fields of alternative energy, digitalization of agriculture and water resources management, deep processing of raw materials, expansion of financial instruments, strengthening ties between the regions of the two countries.

Furthermore, the total volume of German investments in Uzbekistan over the past two years amounted to almost 2 billion euros.

The trade turnover between Uzbekistan and Germany has grown 2.2 times from $529.1 million to $1.16 billion over the past 6 years, exports grew by 2.5 times from $36.9 million to $91.4 million, while the volume of exports increased by 2.2 times from $492.2 million to $1.07 billion.

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